Analog Devices, Inc. (ADI) Expected to Post Quarterly Sales of $1.09 Billion

Equities research analysts expect Analog Devices, Inc. (NASDAQ:ADI) to post $1.09 billion in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Analog Devices’ earnings. The highest sales estimate is $1.13 billion and the lowest is $1.05 billion. Analog Devices posted sales of $778.77 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 40%. The company is expected to report its next quarterly earnings results before the market opens on Wednesday, May 31st.

According to Zacks, analysts expect that Analog Devices will report full-year sales of $1.09 billion for the current financial year, with estimates ranging from $4.74 billion to $4.99 billion. For the next financial year, analysts anticipate that the company will post sales of $5.64 billion per share, with estimates ranging from $5.54 billion to $5.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Analog Devices.

ADI has been the subject of several analyst reports. Zacks Investment Research raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research note on Tuesday, February 7th. Royal Bank of Canada raised their target price on shares of Analog Devices from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Credit Suisse Group AG initiated coverage on shares of Analog Devices in a research note on Tuesday, March 14th. They issued an “outperform” rating and a $100.00 target price for the company. Jefferies Group LLC raised their target price on shares of Analog Devices to $100.00 and gave the company a “buy” rating in a research note on Monday, March 20th. Finally, Pacific Crest raised their target price on shares of Analog Devices to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 7th. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $84.32.

Shares of Analog Devices (NASDAQ:ADI) traded up 1.85% during mid-day trading on Friday, hitting $81.97. 2,198,431 shares of the stock were exchanged. The firm has a 50-day moving average price of $78.44 and a 200 day moving average price of $75.88. Analog Devices has a 12-month low of $52.17 and a 12-month high of $84.24. The company has a market capitalization of $25.35 billion, a PE ratio of 27.96 and a beta of 1.19.

In related news, SVP Peter Real sold 3,000 shares of the business’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $80.00, for a total value of $240,000.00. Following the completion of the transaction, the senior vice president now owns 12,026 shares of the company’s stock, valued at $962,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ray Stata sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $83.29, for a total value of $4,164,500.00. Following the completion of the transaction, the director now directly owns 259,481 shares of the company’s stock, valued at approximately $21,612,172.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,695 shares of company stock valued at $11,553,978. 1.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Analog Devices by 2.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,352 shares of the semiconductor company’s stock worth $3,052,000 after buying an additional 1,078 shares in the last quarter. Trillium Asset Management LLC boosted its position in Analog Devices by 6.9% in the third quarter. Trillium Asset Management LLC now owns 92,692 shares of the semiconductor company’s stock worth $5,974,000 after buying an additional 5,983 shares in the last quarter. DnB Asset Management AS boosted its position in Analog Devices by 10.1% in the third quarter. DnB Asset Management AS now owns 28,221 shares of the semiconductor company’s stock worth $1,819,000 after buying an additional 2,600 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in Analog Devices during the third quarter worth about $193,000. Finally, World Asset Management Inc boosted its position in Analog Devices by 2.1% in the third quarter. World Asset Management Inc now owns 30,873 shares of the semiconductor company’s stock worth $1,990,000 after buying an additional 622 shares in the last quarter. Hedge funds and other institutional investors own 90.38% of the company’s stock.

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About Analog Devices

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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